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$$$$ Question for all appraisers.

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Brian Evichin

Freshman Member
Joined
Feb 10, 2003
This question is for all appraisers and trainee's who may know.
First, what would be a round about average amount an employer should give his/her apprentice per appraisal while the apprentice is earning his/her 2000 hrs. before the state exam? Second , after the 2000 hrs. and after you pass the state exam, what is a round about number of appraisals one would do in a day? or per week?
The reason why I ask is because I want to know what I should get while apprenticing. And I heard from a guy that he has been doing this for about two years, and he just recently started making alittle under what he was making at his old job. The amount he told me wasnt much to live on. It discuraged me alittle bit. After hearing that, I thought of all of the work it takes just to pass the class and them the state exam, and how much work it is to do the appraisals, and for the amount that he told me he was making, it hardly seemed worth it. And now that I am even more interested in it than I was before, i am going to continue with this no matter what. I would just feel alittle bit better knowing for sure . A friend of my fathers comes over sometimes to visit with us, and she is driving a brand new Lincoln Navigator and just had a house built. And she alway has a big smile on her face. She does the same thing. I am sure it varies from person to person, But I am willing to put the time, energy, work, and effort into this.

I know this is pretty forward, I am just curious.Plus, I want a heads up on this so I am not underpaid in the future. Im sure you can relate to that.

Thank You
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Brian,

The first 2 years - at least - will most likely be way below poverty level. Number hitters make more but will always have the noose waiting around the corner.

The first 2 years, minimum, you are a trainee - apprentice - gopher - and a liability to your mentor.

If you really want to do this and find that you love appraising, you'll make it - eventually. It took me about 6 years to start making a decent living.
 

Claudia Cullen

Sophomore Member
Joined
Dec 18, 2002
Professional Status
Licensed Appraiser
State
Massachusetts
Brian, I have to agree with Pamela's post. I'm going in to my 5th year of appraising and last yr. (the 4th yr) made a livable wage. I survived prior to that, because I shared housing expenses with my Mom who was living with me at the time. I am a fee split appraiser and plan to acquire one client of my own this year. I will continue to accept assignments from the firm I worked with last year. But with any luck the new client will give me more assignments and I can slowly cut back on the fee split work.

If you like work where no two days are ever alike, then you'll find the appraisal business challenging, exciting, frustrating and more.

Welcome to the forum, you can and will learn a lot from the postings you see here! :)
 
A

Anonymous

Guest
Brian,
The answer to you question about amounts of work is that you should do only as much work as you feel comfortable with and as much as you can do competantly. So much depends on where you work and how often you leave your geographic area.

You and I are located in New Jersey, a small state. I limit myself to South Jersey about a 60 mile radius but in this small area I have identified three large market areas, Philadelphia suburban, seashore and north Jersey, New York influenced and many sub markets each with its own characteristics. It takes time to understand these areas ( I have been working in this region for over 20 years). Take it slow and easy, you will know when you have reached your limit by your level of satisfaction with your performance.
 

Michael Reilly

Junior Member
Joined
Jan 15, 2002
Brian,

In our system an apprentice will earn about 30,000 per year. We do not pay by the job we pay by the day. the Apprentice is always with a licensed appraiser and assists with each report that appraisers delivers. The system does not allow for an apprentice to go out on his/her own and conduct inspections, pick comps and write full reports. What I can tell you is that once fully licensed there will be know question as to your abilities to appraise real properties. We have two facilities in NJ, Northern & Central and we are always looking for stars. Send me a private message or email if your interested.

MReilly-NY
ACE
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
$25,000 is a good income for an apprentice residential appraiser, you should be able to double that once you are fully licensed. Of course that depends on your location and competition.
 

wyecoyote

Senior Member
Joined
Jan 15, 2002
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Washington
Brian,

My thoughts are this. First two years have a second job to pay the bills. It was not until the 3-4th year that I really started to make some money. Finally going on my sixth year and opening my own business (last year) things get more complicated with the taxes and what not that you have to pay.

Ryan
 

Tony Lehn

Junior Member
Joined
Oct 28, 2002
Professional Status
Certified Residential Appraiser
State
Indiana
Brian,

I just finished my Trainee period, the debt I've built over the pst 2 years is still very fresh on my mind! Not to mention what happened to my credit!

BUT, that is because I did this with kids and a stay at home wife. My adjusted Gross Income, and i do mean Gross, after my first year was $1,500. Mainly because my trainer told me to feed myself and get my own clients. I found this very hard to do as a trainee. Not impossible, but hard. After getting some experience at the whole appraisal thing, I was able to market myself to a higher volume shop that would feed me the work. The fee split was half of my first training position, but the volume more then made up the difference. I'm not sure where I'll be on the AGI, but I can assure yo it will be better then the first year, by quite a margin.

The training period is tough financially. If you want to do it, you stick it out, and figure a way through it though. Thank God for His provision, I'm living proof that it can be done. I'm sure there are many other stories just like mine out there.

Good Luck.
 

Ted Martin

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Kansas
Minimum wage or less is probaby in line, maybe as much as $9/hour if you really are good.
 

Stephen Page

Freshman Member
Joined
Jun 11, 2002
In our system an apprentice will earn about 30,000 per year. We do not pay by the job we pay by the day.
ACE

Interesting, that's illegal up here...just had a company go down for that one...but every state is different.
 
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